New US Airways President and CEO Bruce Lakefield, who succeeded David Siegel in April, faces the same challenge that proved too big for his predecessor: Winning more concessions from the airline's labor unions in order to achieve the cost cuts necessary to compete with LCCs. That goal has become more urgent since Southwest Airlines invaded US Airways' most important hub, Philadelphia, May 9. Ahead of its arrival, US Airways raised the specter of a second bankruptcy reorganization or asset sales if it could not arrive at a "consensual" restructuring.

Siegel stepped down April 19, a little more than two years after he took over, having failed to return the airline to profit despite having taken it through the Chapter 11 bankruptcy process. …

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